Sand Dollar used in under 1% of retail transactions

The Sand Dollar accounts for under 1% of Bahamian retail transactions despite 120,000 to 130,000 digital wallets, the Central Bank governor said. The bank is developing a fast-payment system and aims to equip government to accept Sand Dollars during 2027.

Why it matters:Low merchant acceptance limits digital currency uptake, so banks and merchants may see changes in payment infrastructure as the fast-payment system and government acceptance develop. (Neutral development)